The Bank of New York Selected as Successor Depositary Bank by Royal Dutch Shell PLC
Appointment marks the Bank’s 200th depositary successorship
NEW YORK, November 1, 2005 -- The Bank of New York, a global leader in securities servicing, has been appointed as successor depositary bank by Royal Dutch Shell plc for its
This successorship continues the Bank's 47-year working partnership with the Shell Group. In addition to being the depositary bank for Royal Dutch Shell's Class "B" ADR program, the Bank also served as depositary for The "Shell"
Together, Royal Dutch Shell's Class "A" and "B" ADR programs are among the world's largest in terms of overall investment and trading value. Royal Dutch Shell plc is the largest company, as measured by free-float market capitalization, in The Bank of New York's ADR Index, the only real-time composite tracking all depositary receipts, New York shares and global registered shares traded on the NYSE, the American Stock Exchange and NASDAQ.
This appointment also marks the 200th depositary receipt (DR) program to be switched to The Bank of New York since 1990. In the past year, companies that have moved their DR programs to The Bank of New York from other depositaries include France's Thomson and Aventis,
Christopher Sturdy, managing director and head of The Bank of New York’s Depositary Receipt Division, said, "We are delighted that after experiencing our depositary services first-hand Royal Dutch Shell chose to entrust its Class 'A' program to us, and we are ready to help their ADRs earn greater exposure in the U.S. marketplace. As the world's largest depositary, we have the professional expertise and flexibility to help companies in diverse sectors and regions successfully grow their existing DR programs. This valued appointment highlights our track record as the depositary of choice for experienced issuers, and we are looking forward to our 201st successorship appointment."
Royal Dutch Shell plc is principally a holding company. The company is incorporated in the United Kingdom, under English Law, and headquartered in The Netherlands. The Shell Group, which includes Royal Dutch Shell and its subsidiaries, is a global group of energy and petrochemicals companies that operates in more than 140 countries and territories. Shell Companies maintain five core operating segments: exploration and production, oil products, downstream gas and power, chemicals and renewables.
The Bank of New York sponsors more than 1,200 American and global depositary receipt programs, a 65% market share, acting in partnership with leading companies from 60 countries. With an unrivalled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the Bank delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Additional information is available at www.adrbny.com.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, investment management, and individual & regional banking services. The Company's extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com.
The Bank of New York provides no advice nor recommendation or endorsement with respect to any company or security. Nothing herein shall be deemed to constitute an offer or solicitation of an offer to buy or sell securities.
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